What is a Mastermind Group?

Guest Contributor: Anne-Marie-Faiola
Anne-Marie's Posts - Anne-Marie's Blog


The concept of a Mastermind Group was introduced to the world in a formal manner by Napolean Hill, the author of "Think and Grow Rich" in the 1900's. Of course, informally, the concept had other names "Good Ol' Boys Network", "Bible Study Groups," "YWCA," You see, the concept is really about getting like minded people together to work towards their goals collectively. It doesn't have to be about business - it can be about working out, hobbies or stamp collecting - just so long as everyone in it has a like minded interest in pursuing certain set goals. Napolean Hill defined the Mastermind Principle as, "The coordination of knowledge and effort of two or more people, who work toward a definite purpose, in the spirit of harmony. No two minds ever come together without thereby creating a third, invisible intangible force, which may be likened to a third mind." That sounds a whole lot like the biblical passage, "Where two or more are gathered, there am I." Even the ancient Christians understood the power of groups that were focused together on the same thing.

Masterminding is the what happens when two or more individuals get together in the spirit of cooperative harmony to accomplish some goal, activity or result. All the great leaders in the history of the world have used this concept: Jesus had his disciples, Andrew Carnegie had his team to help build the world's largest steel company, Bill Gates has Steve Ballmer and Paul Allen. Who do you have? What support network have you set up to help you meet the goals you've set out for yourself?

The coauthor of the Chicken Soup for the Soul series, Mark Victor Hansen, said: "One plus one, doesn't equal two. It becomes the power of eleven." Something magic happens when two or more people combine their single dream to form a dream team.

The benefits of a Mastermind Group are many. For me, just having a group of people who all own businesses and have similar issues is gratifying. Realizing that there are others out there like me gives me a sense of shared endeavor. But, a Mastermind Group goes much deeper than all of that. You'll get experience and skills by listening to others with slightly different areas of expertise. You will make real, measurable progress in your business and personal life. You'll develop a close repertoire with your new support network. And, if you're thinking of starting a small side business, you'll save yourself a lot of money by bouncing your ideas off this group of people. You'll have a great celebration when you reach milestones; after all, you have your own built in cheerleading squad. And, back to those goals that you made two years ago with Lynn or last year after Jody's speech? You dramatically increase your chances of reaching your goals, as a group of people will assist you brainstorming solutions and action steps. By sharing your goals and results AND getting inspired by the progress made by others in your group, you are motivated by accountability.

So, how do YOU start your own personal dream team?

First, look around you? Have you surrounded yourself by people who inspire you? Individuals who lead lives of distinction? My goal with my three Mastermind Business Groups (yes, I said THREE. I have three Mastermind Business Groups. Two in Seattle and One in Bellingham, Washington). It's not because I'm a big loser and I need tons and tons of help. It's because having a deep well of experience and support to draw from is a key to my success. Thirty year old's don't have multi million dollar, debt free, international, consistently, 10 years and running, profitable businesses. Mine didn't happen by accident. I'm really not all that special or fantastic. I 100% believe that without my Mastermind Groups dragging me, driving me and pushing me to new levels of success that I wouldn't be where I am today. I surround myself with people who are better than me. They're smarter than me. They're more well read. They run bigger businesses. I try and suck up everything they tell like me like a water starved plant.

Starting your Mastermind Group means first, determining a purpose and looking around and seeing if there's anyone in your current circles with a shared common interest to you. It doesn't have to be to rule the world, or to start the next Mrs. Field's Cookies - you can have a Mastermind Group around working out, around cooking healthy, about beating diabetes, about Bible Study - all of mine happen to be business related but yours don't have to be.

Once you have your purpose, the next step is to identify people who would be complementary in your Mastermind Group. If you're starting a group to work on exercise goals, having similar skill levels would be a good idea. After all, if there's 6 tubby, out of shape people and 1 ultra marathoner, either the six people are going drop out because they're so dejected about the entire thing or the 1 ultra marathoner will get drummed out because they have nothing in common. Basic Ground Rules for what you want in your Mastermind Group are essential to making sure that your group will succeed. My Bellingham Mastermind Group has ground rules. One, we have to be women. Two, we have to started our own businesses without help. And Three, we've gotta be scrappy. Gotta be fighters. My Seattle Group? They don't care if you're a man or a woman. They don't care if you started your own business. Their ground rules are that you be under the age of 40, with a business that you own 25% of or more that's grossing over $1million dollars a year. So, for your Mastermind Group, figure out your purpose and then figure out the criteria for joining the group.

Next, establish guidelines. This is pretty easy. How do you want your meetings to go? Do you want them in the evenings? The mornings? Once a week? Once a month? Two hours? Four hours? Will there be snacks? One of my groups meets on the 2nd Tuesday of every month at 7:30 in the morning and the the meeting lasts for 2 and a half hours. There is light breakfast food. Another one meets at 6:00 p.m. on a mostly monthly schedule, whenever we can get our calendars to align. We meet at a restaurant, drink alcohol and those meetings last for four hours. So, your guidelines can be whatever works for you and your group.

Then, figure out what a meeting looks like? What are you going to cover EVERY SINGLE TIME? My Seattle Group has a 5 minute regimented check in and then 2 presentations or problems that the group listens to and then jointly group problem solves. This format works because, the Mastermind Concept is all about using the power of the group's energy to solve bigger than life problems. My Bellingham Group? We have homework, books reports, and a much longer update process that involves talking about our goals and our progress on them. We rarely mastermind about problems but instead focus on getting more success out of our lives. These are two different ways of approaching the same issue of "business." So, your group can customize it however you want but it's important that you have a stated way of running your meetings.

During the period it's important to establish guidelines for how you operate with each other like not putting down other speakers, a solutions-orientation versus a problem-orientation, sharing time so or having a time keeper, confidentiality, and mutual respect. This is probably the most important step as it creates the atmosphere for you to operate in. My Bellingham Group calls this attitude "remaining judgment free," and my Seattle Group doesn't have a name for it but the rule is that you never talk about anyone else in the Mastermind Group without them being present and in that group, you're not allowed to give advice - only experience from your history. Both work equally well and I'm sure yours will too. Just make sure that you don't miss this crucial step. If you do, you run the risk of your group devolving into just a gossipy group of people. Setting the appropriate atmosphere for how you interact with your group members will be the difference between the group's ultimate success or failure.

Finally, figure out who's going to lead? It can rotate, you can dole out tasks or one person can take it all. Just make sure there's a driver.

Phew! I know that sounds like it might be more trouble than its worth. It's not. After all, you didn't make all those goals that Lynn helped you make a few years ago. Where would you be right now if you had achieved even half of those goals? How would your life have changed? You owe it to yourself and your family and your co-workers to dig that list out, figure out a focus, find yourself a peer group and start masterminding your way to success. Hillary Clinton once said, "No one ever became a success without the help of other people." I believe it. You need others to drag you and push you along the path of success.